Business
The RealReal Provides Business Update
SAN FRANCISCO, June 02, 2021 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury
About this update from The Realreal, Inc.
[{"type":"text","content":"SAN FRANCISCO, June 02, 2021 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—today provided a business update in advance of its participation at the 41st Annual Piper Sandler Consumer Marketplace Conference. Gross merchandise volume (GMV) quarter to date through May 31, 2021, was approximately $239 million, an increase of 106% Y/Y and 53% compared to the same period in 2019. In addition, average order value (AOV) quarter to date through May 31, 2021, was approximately $520, an increase of 26% Y/Y and 13% compared to the same period in 2019. “Our GMV growth rate quarter to date reflects the strong momentum we are experiencing coming out of COVID, highlighted by accelerating growth year over year versus the equivalent period in 2019. Encouraging early results in our neighborhood stores, growing contributions from a return to in-home consignments and strong resale market trends are all contributing to our performance. As we build on our recent momentum, we remain laser focused on driving scale and operating efficiency gains as we march toward profitability,” said Julie Wainwright, founder and CEO of The RealReal. The COVID-19 pandemic continues to change consumer and business behavior in ways that are difficult to predict. The company believes that disclosing monthly GMV and AOV will provide additional transparency regarding the effects of the COVID-19 pandemic on its business. Consistent with SEC guidance regarding the impacts of the COVID-19 pandemic, the company intends to provide monthly GMV and AOV through the end of 2021. The following table represents GMV and AOV growth rates for April 2021, May 2021 and Q2 2021 Quarter to Date through May 31, as compared to 2020 and 2019: 2021 vs 2020 2021 vs 2019 April May Quarter todate April May Quarter todateGMV132% 85% 106% 56% 50% 53%AOV28% 25% 26% 10% 15% 13% The information in this press release will be discussed at the 41st Annual Piper Sandler Consumer Marketplace Conference webcast on June 3, 2021, and reflects preliminary information available as of this date. This webcast can be accessed on The RealReal’s investor relations page of its website at https://investor.therealreal.com/news-events/events. The RealReal expects to release financial results for the second quarter ended June 30, 2021, in early A...